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Banks and federally chartered trust and loan companies are required to transfer to the Bank of Canada all unclaimed bank balances maintained in Canada in Canadian currency that have been inactive for a period of 10 years.

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Governor Stephen S. Poloz, Minister of Finance Bill Morneau and Minister of Status of Women Patty Hajdu will reveal which iconic Canadian woman will be featured on the next regularly circulating bank note. (9:00 (ET) approx.).

The Financial Stability Forum (FSF) has presented to the G7 Finance Ministers and central bank Governors a report making recommendations for enhancing the resilience of markets and financial institutions. The recommended actions are in five areas:

Public sector and private sector initiatives are underway in these areas. The FSF will facilitate coordination of these initiatives and oversee their timely implementation, thus preserving the advantages of integrated global financial markets and a level playing field across countries. To restore confidence in the soundness of markets and institutions, it is essential that steps are taken now to enhance the resilience of the global system. At the same time, the FSF recognises the strains under which the financial system is currently operating and will pursue implementation in a way that avoids exacerbating stress in the short term. The FSF will report on progress in June followed by a fuller follow-up report in September. The FSF will continue to closely monitor implementation thereafter.